Transatlantic Politics and the Transformation of the International Monetary System

Michelle Frasher shows how the 1970s marked a watershed in the transformation of international monetary affairs that forced significant changes in the state-market relationship, and created the conditions for currency crises for the past forty years. Through archival documents and interviews, she brings the reader into the negotiating room as American, French, and German officials confronted the encroachment of the global market upon their domains of power. She argues that the result of these negotiations was a system that has allowed national and market interests to exert a greater influence on financial affairs – to the detriment of global stability.